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Jun 30, 2020
Ameris Bank Q2 2020 Earnings Report
Ameris Bank's financial results were announced for the second quarter of 2020.
Key Takeaways
Ameris Bancorp reported a net income of $32.2 million, or $0.47 per diluted share, for the quarter ended June 30, 2020. The adjusted net income was $42.4 million, or $0.61 per diluted share, for the same period.
Net income was $32.2 million, or $0.47 per diluted share.
Adjusted total revenue grew by $67.7 million, or 30.0%, compared to the first quarter of 2020.
Income from mortgage banking activity increased by $69.6 million compared to the first quarter of 2020.
The adjusted efficiency ratio was 51.08%, compared to 59.87% in the first quarter of 2020.
Revenue by Segment
Forward Guidance
The challenges of COVID-19 and the global economy certainly affect how we do business, but our bankers have quickly adapted to the new operating environment.
Positive Outlook
- Successfully managed deposit costs to improve the margin by 13 basis points.
- Funded over $1.4 billion in new loan growth (including PPP loans).
- Mortgage division continued to see historic production and profitability.
- Increased our allowance for credit losses on loans to over $208 million.
- Still earned $32 million for the quarter.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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